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ATOM Price Analysis: Bulls raid the market with full pace

Cryptocurrency

ATOM- Cosmos’ proprietary token ranks 19 according to the stats of Coinmarketcap. The price of ATOM at the time of press was $3.8440 and the market cap was at $732 million. A huge chunk of ATOM was traded from HOTBIT- one of the professional trading platform based in Shanghai and Taipei. It contributed to a total of $32 million via ATOM / USDT pair.

1 Hour Chart

Hourly Analysis of ATOM
Source: ATOM / USD TradingView

The one hour chart exhibited an uptrend extending from $3.0253 to $3.3118 without any noticeable downtrend. The support was held at $3.0696 and a resistance stood at $3.2734.

The Bollinger Bands had slowly started to converge reducing the volatility of the coins.

The Awesome Oscillator showed that the coins were gaining some momentum in the bearish market.

Chaikin Money Flow: The CMF line was above the zero line placing the coin in the bullish market.

1 Day Chart

1 Day Analysis of ATOM
Source: ATOM / USD TradingView

The daily chart showed a major downtrend extending from $7.0428 to $3.8250 without any uptrend. The immediate resistance stood at $3.7885 and subsequent resistance at $4.2962 while the support was held at $3.0952 to $2.6908.

Parabolic SAR: The dotted line below the candlesticks was going up indicating the presence of the coin in the bullish market.

The MACD line was perched atop the signal line making the coin experience a bullish trend.

Relative Strength Index: The RSI line was way above the 50-line and had breached over 60-line too pushing the coin to bull market as the buying pressure was too high.

Conclusion

The CMF indicator in the short term chart and all the indicator in the long term chart confirmed the presence of the coin the bullish market.

 

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